265,045 Shares in GeneDx Holdings Corp. (NASDAQ:WGS) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in GeneDx Holdings Corp. (NASDAQ:WGS) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 265,045 shares of the company’s stock, valued at approximately $20,371,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MCF Advisors LLC increased its stake in GeneDx by 107.7% in the 4th quarter. MCF Advisors LLC now owns 351 shares of the company’s stock valued at $27,000 after buying an additional 182 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in GeneDx in the 4th quarter valued at about $28,000. Evolution Wealth Advisors LLC purchased a new stake in GeneDx in the 4th quarter valued at about $202,000. Victory Capital Management Inc. purchased a new stake in GeneDx in the 4th quarter valued at about $209,000. Finally, Point72 DIFC Ltd purchased a new stake in GeneDx in the 3rd quarter valued at about $220,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

GeneDx Stock Up 10.2 %

GeneDx stock opened at $98.47 on Monday. GeneDx Holdings Corp. has a 1-year low of $7.72 and a 1-year high of $115.60. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of -50.24 and a beta of 1.91. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The firm has a 50 day simple moving average of $84.60 and a 200 day simple moving average of $69.93.

GeneDx (NASDAQ:WGS) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.66. The firm had revenue of $95.64 million during the quarter, compared to analyst estimates of $82.24 million. GeneDx had a negative net margin of 17.12% and a positive return on equity of 3.33%. On average, analysts predict that GeneDx Holdings Corp. will post 0.97 earnings per share for the current year.

Analyst Ratings Changes

WGS has been the subject of several analyst reports. The Goldman Sachs Group increased their price objective on shares of GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. TD Cowen increased their target price on shares of GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.33.

Insider Activity

In other news, CEO Katherine Stueland sold 2,731 shares of GeneDx stock in a transaction on Monday, March 10th. The shares were sold at an average price of $94.73, for a total transaction of $258,707.63. Following the completion of the sale, the chief executive officer now directly owns 7,752 shares of the company’s stock, valued at approximately $734,346.96. The trade was a 26.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevin Feeley sold 922 shares of GeneDx stock in a transaction on Monday, March 10th. The stock was sold at an average price of $94.72, for a total transaction of $87,331.84. Following the sale, the chief financial officer now directly owns 5,446 shares of the company’s stock, valued at $515,845.12. This represents a 14.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 111,947 shares of company stock worth $10,203,444 in the last three months. Corporate insiders own 27.30% of the company’s stock.

GeneDx Profile

GeneDx Holdings Corp., through its subsidiaries, provides genomics-related diagnostic and information services. The company offers Centrellis, an AI-driven health intelligence platform that integrates digital tools and artificial intelligence allowing scientists to ingest and synthesize clinical and genomic data to deliver comprehensive health insights.